The Indian equity market ended Tuesday’s rangebound session lower, dragged by sharp selling in HDFC, Infosys, ICICI Bank and HDFC Bank stocks. The NSE Nifty50 dropped 57 points to end at 10,831, while the Sensex declined by 241 points to 36,154 at close. Metals and Reliance Industries were among top gainers, while financials declined the most. Axis Bank that saw its non-retail portion of offer sale fully subscribed, closed 1 percent off lows.

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Broader market indexes closed with minor gains with the Nifty MidCap index settling 8.55 points lower at 16,328 but the market breadth remained in favour of declines with NSE Advance-Decline ratio at 2:3. Among sectoral gauges, the Nifty Bank slipped 217 points to 27,011, dragged largely by ICICI Bank and HDFC Bank.

From the third quarter earnings front, Hindalco ended the session near day’s low as profit fell 34 percent and copper sales volume slipped 3 percent year-on-year basis.

From the infra space, NCC reported earnings higher than estimates with operating profit coming in at Rs 414.7 crore against a CNBCTV18 poll of Rs 340 crore. The margin came in at 12.3 percent against the poll of 11.6 percent.

Heidelberg Cement too saw its earnings improving against the corresponding quarter. Profit came in 84 percent higher at Rs 58.6 crore and revenue was up 14.8 percent at Rs 564 crore.

In the derivatives market, Nifty Call options of 10,900 and 11,000 have added nearly 9 lakh shares each in the open interest with premium falling 49 percent and 47 percent, respectively. Put option of 10,800 added a little more than 1 lakh shares in the open interest with premium moving 26 percent higher. Nifty February closed with a premium of 35 points against a premium of 21 points on Monday.

Stocks in major Asian stock markets closed higher on Tuesday, with stocks in Japan leading in the region. Japan's Nikkei 225 jumped 2.61 percent to close at 20,864.21, while the Topix gained 2.16 percent to finish its trading day at 1,572.60.

Shares of Fast Retailing rose 3.01 percent, while chip company Renesas Electronics skyrocketed 16.26 percent.

Mainland Chinese markets were higher in the day. The Shenzhen component rose 1.15 percent to close at 8,010.07, while the Shenzhen composite advanced 1.2 percent to finish its trading day at 1,364.15. The Shanghai composite also went up 0.68 percent to close at 2,671.89.

Hong Kong's Hang Seng index closed flat at 28.171. South Korea's Kospi gained 0.45 percent to close at 2,190.47, as shares of industry heavyweight Samsung Electronics and chipmaker SK Hynix jumped 2.33 percent and 2.43 percent, respectively. LG Electronics gained 3.75 percent.

The ASX 200 in Australia recovered from its earlier dip to close 0.3 percent higher at 6,079.10 as the sectors mostly rose. The energy subindex gained 1.22 percent as shares of oil companies advanced.

Santos was up 1.89 percent, Woodside Petroleum advanced 0.58 percent and Beach Energy rose 2.11 percent.

Disclosure: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

First Published:Feb 12, 2019 4:09 PM IST